Zain Group

Sector: Telecoms

Country: Kuwait

Zain, the pioneer of mobile telecommunications in the Middle East, began operations in 1983 in Kuwait as the region’s first mobile operator.

Since launching its expansion strategy in 2003, the company has grown rapidly.

Today, Zain operates in eight markets across the Middle East and Africa, delivering innovative technologies, enterprise solutions, and digital lifestyle communications to over 50.7 million active individual and business customers as of March 31, 2024, supported by a workforce of more than 7,900.

The Zain brand lies at the core of the company’s identity — it represents a promise to customers, defines the company’s vision, and drives its internal focus. Valued at $3.5bn, the brand saw a 14.5 per cent year-on- year increase according to the Brand Finance 2025 rankings, maintaining a AAA- brand rating.

In Q1 2025, Zain Group recorded a 15 per cent rise in revenue to KD536m ($1.74bn). EBITDA also rose 15 per cent to KD171m ($554m), reflecting an EBITDA margin of 32 per cent. Net income soared 66 per cent to KD48.5m ($157m), with earnings per share of 11 fils ($0.04).

This growth was fuelled by robust performance across key markets, with revenue increases in Sudan (up 112 per cent), Iraq (up 13 per cent), Bahrain (up 8 per cent), Jordan (up 7 per cent), and Saudi Arabia (up 6 per cent).

The customer base grew 20 per cent, aided by ongoing network restoration and expansion in Sudan and growth in other markets. Data revenue increased 6 per cent to $633m, accounting for 36 per cent of overall revenue.

The group invested $242m in CAPEX during the quarter, representing 14 per cent of revenues, while Kuwait, Saudi Arabia, Bahrain, and Jordan continued expanding their 5G customer base.

Fintech services — including Bede in Kuwait and Bahrain, Tamam in Saudi Arabia, and Zain Cash — experienced 30 per cent revenue growth, with transaction values increasing 25 per cent to $1.7bn.

Zain Kuwait received the ISO 37301:2021 certification for Compliance Management Systems in April, becoming one of the first regional mobile operators to achieve this milestone.

This recognition highlights the company’s strong commitment to regulatory compliance and integrity. It also marks Zain Kuwait’s seventh ISO certification, solidifying its position as the most ISO-certified telecom operator in the country.